VANNEC
ActiveSummary
VANNEC has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €108,726 and a net result of -€52,809. Equity is shrinking by ~28.7% per year across the filed fiscal years. Its solvency ranks better than 93% of 405 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 9.0; short-term debt: 11.1% and cash: 0.1% of total assets), and 11.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
88.9%
Return on assets
-43.2%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€52,809
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
11 d late
2023
32 d early
2022
32 d early
2021
33 d early
2020
33 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€108,726▼ 32.7%
2024 · €161,534
Total assets
€122,318▼ 24.9%
2024 · €162,808
Net result
-€52,809▲ 71.8%
2024 · -€187,301
Working capital
€108,726▼ 32.7%
2024 · €161,534
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€75,525-€127,414▼ 68.7%-€11,252▲ 91.2%-€189,149▼ 1,581%-€52,600▲ 72.2%
Net result-€104,633below the sector's middle half-€138,101below the sector's middle half▼ 32.0%-€11,927below the sector's middle half▲ 91.4%-€187,301below the sector's middle half▼ 1,470%-€52,809below the sector's middle half▲ 71.8%
Equity€498,863within the sector's middle half▼ 17.3%€360,762within the sector's middle half▼ 27.7%€348,835within the sector's middle half▼ 3.3%€161,534within the sector's middle half▼ 53.7%€108,726within the sector's middle half▼ 32.7%
Total assets€1.4mwithin the sector's middle half▼ 59.0%€384,790below the sector's middle half▼ 71.6%€379,637below the sector's middle half▼ 1.3%€162,808below the sector's middle half▼ 57.1%€122,318below the sector's middle half▼ 24.9%
Debt€854,368▼ 68.3%€24,029▼ 97.2%€30,802▲ 28.2%€1,273▼ 95.9%€13,592▲ 967%
Working capital€501,718▼ 2.6%€360,762▼ 28.1%€348,835▼ 3.3%€161,534▼ 53.7%€108,726▼ 32.7%
Solvency36.9%within the sector's middle half▲ 18.6pp93.8%above the sector's middle half▲ 56.9pp91.9%above the sector's middle half▼ 1.9pp99.2%above the sector's middle half▲ 7.3pp88.9%above the sector's middle half▼ 10.3pp
Staff (FTE)10.6within the sector's middle half▼ 31.2%1.7below the sector's middle half▼ 84.0%
above
within
below
the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €52,600 in 2025 against €189,149 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €122,318
Equity
€108,726 ▼ 32.7%
Debt
€13,592 ▲ 967%
Debt's share of the balance-sheet total rises from 0.8% to 11.1%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
9.00
Debt to equity
0.13▲
2024 · 0.01
ROE
-48.6%▲
2024 · -116.0%
ROA
-43.2%▲
2024 · -115.0%
Debt ≤ 1 year
€13,592▲
2024 · €1,273
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,815 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 88% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.9%
went bankrupt
9.9%
stopped otherwise
88%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,815 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €710,142 | €47,822 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €241,129 | - | - | €149,795 | - | - |
| Other operating charges640/8 | €56,871 | €32,983 | €5,297 | €2,403 | €526 | ▼ 78.1% |
| Gross operating margin9900 | €932,617 | -€46,609 | -€5,955 | -€36,951 | -€52,074 | ▼ 40.9% |
| Operating profit (loss)9901 | -€75,525 | -€127,414 | -€11,252 | -€189,149 | -€52,600 | ▲ 72.2% |
| Financial income75/76B | €14,978 | €6 | - | €2,495 | - | - |
| Recurring financial income75 | €14,978 | €6 | - | €2,495 | - | - |
| Financial charges65/66B | €43,676 | €10,693 | €675 | €647 | €209 | ▼ 67.7% |
| Recurring financial charges65 | €43,676 | €10,693 | €675 | €647 | €209 | ▼ 67.7% |
| Profit (loss) for the period before taxes9903 | -€104,223 | -€138,101 | -€11,927 | -€187,301 | -€52,809 | ▲ 71.8% |
| Income taxes67/77 | €410 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€104,633 | -€138,101 | -€11,927 | -€187,301 | -€52,809 | ▲ 71.8% |
| Profit (loss) for the period to be appropriated9905 | -€104,633 | -€138,101 | -€11,927 | -€187,301 | -€52,809 | ▲ 71.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €384,790 | €379,637 | €162,808 | €122,318 | ▼ 24.9% |
| Tangible fixed assets22/27 | €0 | - | - | - | - | - |
| Current assets29/58 | €1.4m | €384,790 | €379,637 | €162,808 | €122,318 | ▼ 24.9% |
| Amounts receivable within one year40/41 | €1.3m | €367,425 | €374,473 | €162,742 | €122,226 | ▼ 24.9% |
| Trade receivables40 | €1.3m | €367,425 | €368,632 | €158,242 | €122,226 | ▼ 22.8% |
| Other amounts receivable41 | €43,243 | - | €5,841 | €4,500 | - | - |
| Cash at bank and in hand54/58 | €35,480 | €17,365 | €5,164 | €66 | €91 | ▲ 39.3% |
| Deferred charges and accrued income490/1 | €9,354 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €384,790 | €379,637 | €162,808 | €122,318 | ▼ 24.9% |
| Equity10/15 | €498,863 | €360,762 | €348,835 | €161,534 | €108,726 | ▼ 32.7% |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €468,863 | €330,762 | €318,835 | €131,534 | €78,726 | ▼ 40.1% |
| Distributable reserves133 | €468,863 | €330,762 | €318,835 | €131,534 | €78,726 | ▼ 40.1% |
| Amounts payable17/49 | €854,368 | €24,029 | €30,802 | €1,273 | €13,592 | ▲ 967% |
| Amounts payable after more than one year17 | €2,856 | - | - | - | - | - |
| Financial debts170/4 | €2,856 | - | - | - | - | - |
| Amounts payable within one year42/48 | €851,512 | €24,029 | €30,802 | €1,273 | €13,592 | ▲ 967% |
| Current portion of amounts payable after more than one year42 | €3,776 | €2,856 | - | - | - | - |
| Financial debts43 | €300,000 | - | - | - | - | - |
| Credit institutions430/8 | €300,000 | - | - | - | - | - |
| Trade debts44 | €133,861 | €100 | €2,739 | - | €12,467 | - |
| Suppliers440/4 | €133,861 | €100 | €2,739 | - | €12,467 | - |
| Taxes, remuneration and social security45 | €1,020 | €3,491 | - | €576 | - | - |
| Taxes450/3 | €1,020 | €3,491 | - | €576 | - | - |
| Other amounts payable47/48 | €412,855 | €17,581 | €28,063 | €697 | €1,125 | ▲ 61.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€104,633 | -€138,101 | -€11,927 | -€187,301 | -€52,809 | ▲ 71.8% |
| Operating cash flow (approximation) | -€104,633 | -€138,101 | -€11,927 | -€187,301 | -€52,809 | ▲ 71.8% |
| Change in cash | - | -€18,115 | -€12,202 | -€5,098 | €26 | ▲ 101% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 11 days late
2024
31-12
Financial
Weakest financial yearnet -€187,301
Net result drops to -€187,301, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 10current ratio 127.85
Current ratio from 12.33 to 127.85; short-term debt falls from €30,802 to €1,273.
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity times 10current ratio 16.01
Current ratio from 1.59 to 16.01; short-term debt falls from €851,512 to €24,029.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Highest result since 2019net €575,972 ▲802%
Operating result €839,768, net result €575,972, both a record.
2019
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
28-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
11 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Oostkamp · 1 establishment unit since 2008
Ground area
2,007 m²
Parcel 31403F0319/00G000, Flanders. Linked by address, not a title deed.
1 establishment unit
VANNEC
since 20082.174.496.510
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31403F0319/00G000 | Flanders | 2,007 m² | - | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 6,249 EUR awarded · 6,249 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 6,249 EUR | 6,249 EUR |
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Of 1,824 companies in sector 42220 we hold annual accounts for 958. 712 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-11-2008
Fiscal year end31-12
Activities, NACEBEL 2025
42220Construction of utility projects for electricity and telecommunications
43211General electrical installation work
43222Installation of electric heating, air conditioning, cooling and ventilation
43410Roofing work
46130Agents in the wholesale of timber and building materials
E-invoicing
Reachable via Peppol
Peppol ID
0208:0807969220
Also
9925:BE0807969220
Registered
13-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.